Michael Schumacher and a newly-famous taxi driver might soon face the consequences of their high speed ride in a nine-seater Opel minivan earlier this week.

Tuncer Yilmaz sparked a frenzy of international headlines when he revealed that Schumacher, the retired seven time world champion, gave him a 100 euro tip after asking to take over the wheel of his taxi in order to get his family to the airport on time.

Yilmaz, originally from Turkey, said the former Ferrari racer drove 'full throttle' around corners while overtaking 'in some unbelievable places' in Coburg, central Germany, as his wife Corinna and two children also sat in the cab.

The Coburg newspaper Neue Presse now reports that both Schumacher and Yilmaz are being investigated by police and state prosecutors.

On the verge of missing a flight, seven-time F1 Champion Michael Schumacher jumped behind the wheel of a taxi and arrived in time at the airport with his family, according to a report emanating from AFP.

Taxi driver Tuncer Yilmaz, interviewed by daily Munich newspaper Abendzeitung, said Schumacher asked him if he could drive the car himself. The now-consultant at Ferrari was accompanied by his wife and two children.

"I found myself sitting in the passenger seat with Schumi at my side. It was incredible," explained Yilmaz.

"He made incredible passes and drove at high speed through the curves," added the taxi driver, who was granted a good tip in addition to his fare.

The report was confirmed to German sports news agency SID by Sabine Kehm, Schumacher's spokeswoman.

She explained that the Schumacher family landed at an airport in Coburg, in central Germany, to take delivery of a dog from a breeder located in a nearby village.